1) Sally Medavoy will invest $7,870 a year for 19 years in a fund that will earn 9% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 19 years? If the first payment occurs at year-end, what amount will be in the fund in 19 years?

2) John Fillmores lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $404,100. He estimates that the boat he wants will cost $314,200 when he retires in 6 years. How much of his inheritance must he invest at an annual rate of 11% (compounded annually) to buy the boat at retirement? 3) Morgan Freeman is investing $11,068 at the end of each year in a fund that earns 10% interest. In how many years will the fund be at $105,000? 4) Zach Taylor is settling a $30,000 loan due today by making 6 equal annual payments of $7,091.29. Determine the interest rate on this loan, if the payments begin one year after the loan is signed. 5) a) What is the future value of 20 periodic payments of $5,870 each made at the beginning of each period and compounded at 8%? b) What is the present value of $3,140 to be received at the beginning of each of 30 periods, discounted at 10% compound interest? c) What is the future value of 16 deposits of $2,020 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the 16th period.) d)What is the present value of 8 receipts of $3,010 each received at the beginning of each period, discounted at 9% compounded interest?